Are the rich getting richer and the poor getting poorer in Canada?
As Sarah Palin might put it: You betcha!
According to Statistics Canada's recently released Survey of Financial Security, the total net worth of the poorest 20 per cent of families actually decreased by 15 per cent between 1999 and 2012. In fact, collectively, they now have a negative net worth (i.e. debts exceeding assets) of more than $10 million.
The last time Canadian federal tax revenues have been this low (as a share of the economy). (Source)
Top federal personal income tax rate for anyone earning from $136,270 to you name it. In 1981, the rate for anyone earning $119,000 or more (1981 dollars) was 43 per cent. (Source)